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FRB: Press Release Summary -- List of OTC stocks subject to margin r... 1 of 2 https://www.federalreserve.gov/boarddocs/press/general/1998/1998012... List of Marginable OTC Stocks1 and List of Foreign Margin Stocks2 as of February 9, 1998 - March 31, 1998 (Regulations G and U) February 9, 1998 - January 1, 1999 (Regulations T and X) The List of Marginable OTC Stocks is composed of stocks traded in the United States over-the-counter (OTC) that have been determined by the Board to be subject to margin requirements as of February 9, 1998, pursuant to Section 207.6 of Federal Reserve Regulation G, "Securities Credit by Persons Other Than Banks, Brokers, or Dealers," Section 220.17 of Regulation T, "Credit by Brokers and Dealers," and Section 221.7 of Regulation U, "Credit by Banks for the Purpose of Purchasing or Carrying Margin Stocks." It also includes all OTC stocks designated as National Market System (NMS) securities. Additional NMS securities may be added in the interim between Board quarterly publications; these securities are immediately marginable upon designation as NMS securities. The names of these securities are available at the National Association of Securities Dealers, Inc. and at the Securities and Exchange Commission. This List supersedes the previous List of Marginable OTC Stocks published effective November 10, 1997. Pursuant to amendments recently adopted by the Board, lenders subject to Regulation G will become subject to a revised Regulation U on April 1, 1998 and Regulation G will be removed from the Code of Federal Regulations. Also on April 1, 1998, Regulation U will be revised so that lenders other than brokers and dealers will no longer be required to apply the Board's margin requirements to all OTC stocks on the OTC List. Instead, lenders subject to the revised Regulation U will be required to apply the Board's margin requirements only to those OTC stocks that qualify as NMS securities. The names of these securities are available at the National Association of Securities Dealers, Inc. and at the Securities and Exchange Commission. Lenders subject to Regulation T and borrowers subject to Regulation X who are required under Section 224.3(a) to conform credit they obtain to Regulation T must continue to use the OTC List until publication of the next OTC List, anticipated for May 1998. An amendment to Regulation T that will make all stocks trading in the Nasdaq Stock Market marginable at brokers and dealers will be effective January 1, 1999. The Board will cease publication of the OTC List at that time. The List of Foreign Margin Stocks is composed of foreign equity securities that have met the Board's eligibility criteria, pursuant to Regulation T, Section 220.17. These foreign equity securities are eligible for margin treatment at broker-dealers on the same basis as domestic margin securities. This list supersedes the previous List of Foreign Margin Stocks 7/29/2024, 3:57 PM FRB: Press Release Summary -- List of OTC stocks subject to margin r... 2 of 2 https://www.federalreserve.gov/boarddocs/press/general/1998/1998012... published effective November 10, 1997. CAUTION: It is unlawful for any person to cause any representation to be made that inclusion of a security on the List of Marginable OTC Stocks or the List of Foreign Margin Stocks indicates that the Board or the Securities and Exchange Commission has in any way approved such security or transaction therein. Also, any reference to the Board in connection with these Lists or any securities thereon in an advertisement or similar communication is unlawful. Any inquiry relating to these Lists or to Regulations G, T, U or X should be addressed to the nearest Federal Reserve Bank. 1 2 Prepared for purposes of Regulations G, T, U, and X. Prepared for purposes of Regulation T only. Marginable OTC and Foreign Margin Stocks (189 KB PDF) Marginable OTC and Foreign Margin Stocks (359 KB ASCII) Marginable OTC Stocks only (133 KB PDF) Foreign Margin Stocks only (58 KB PDF) 1998 Banking and consumer regulatory policy Home | News and events Accessibility Last update: January 26, 1998, 12:00 PM 7/29/2024, 3:57 PM